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Anchorage Municipality, Alaska, has an annual GDP of approximately 27.8 billion dollars, with a GDP per capita of 95,672 dollars, indicating a relatively high standard of living compared to the national average of 77,754 dollars. However, the region experienced a slight GDP decline of 0.4% over the last year, reflecting broader economic challenges, as Alaska's overall GDP growth rate was negative at -1.4%. Anchorage's economy is heavily service-oriented, with 75.3% of its GDP coming from service-providing sectors, which is higher than the national average of 71.2%. In contrast, goods-producing industries contribute only 6.8% to its GDP, significantly lower than the national figure of 17.4%. This trend highlights Anchorage's reliance on services, which may be a vulnerability in economic downturns, especially when compared to other Alaskan counties like Matanuska-Susitna Borough, which saw a GDP growth of 2.9% last year.
In Anchorage Municipality, AK, the employment rates reflect a relatively strong labor market compared to both state and national averages. The employment rate for individuals aged 20-64 stands at 72.1%, which is above Alaska's average of 69.3% but slightly below the national average of 73.8%. Notably, the employment rate for those with a Bachelor's degree is 80.6%, aligning closely with Alaska's 80% and surpassing the national figure of 84.3%. The rates for high school graduates (68.1%) and females (71.5%) also indicate a competitive workforce, although they trail behind national averages (67.9% and 70%, respectively). Compared to other Alaskan counties, Anchorage performs well, particularly against Matanuska-Susitna Borough (65.3%) and Fairbanks North Star Borough (63.1%), highlighting its role as a key economic hub in the state.
Anchorage Municipality, AK, stands out with a mean household income of $95,731 and a median household income of $122,032, both significantly higher than the state averages of $86,370 and $110,602, respectively. This positions Anchorage as a leading economic hub in Alaska, with an income per capita of $46,554, surpassing the state’s $42,828. The region also exhibits a lower income inequality, indicated by a Gini index of 0.4291, compared to the national average of 0.4829 and Alaska's 0.4304. Notably, only 8.2% of households earn less than $20,000, which is considerably lower than the national figure of 12.1%. This data suggests a robust local economy, likely driven by diverse employment opportunities and a higher cost of living, distinguishing Anchorage from other Alaskan counties like Matanuska-Susitna Borough and Fairbanks North Star Borough.